Monster Beverage Co. Expected to Post Q2 2023 Earnings of $0.74 Per Share (NASDAQ:MNST)

Monster Beverage Co. (NASDAQ:MNST – Get Rating) – Stock analysts at Wedbush dropped their Q2 2023 EPS estimates for Monster Beverage in a note issued to investors on Wednesday, March 1st. Wedbush analyst G. Pascarelli now forecasts that the company will post earnings per share of $0.74 for the quarter, down from their previous estimate of $0.77. The consensus estimate for Monster Beverage’s current full-year earnings is $2.98 per share. Wedbush also issued estimates for Monster Beverage’s Q4 2023 earnings at $0.76 EPS.

MNST has been the topic of several other research reports. JPMorgan Chase & Co. dropped their target price on shares of Monster Beverage from $114.00 to $112.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 1st. Cfra lowered shares of Monster Beverage from a “buy” rating to a “hold” rating and dropped their target price for the company from $110.00 to $100.00 in a research report on Wednesday, March 1st. Morgan Stanley dropped their target price on shares of Monster Beverage from $117.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 1st. Evercore ISI lifted their target price on shares of Monster Beverage from $105.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 18th. Finally, Truist Financial lifted their target price on shares of Monster Beverage from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, March 1st. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Monster Beverage presently has an average rating of “Moderate Buy” and an average target price of $110.28.

Monster Beverage Stock Performance

MNST stock opened at $103.98 on Monday. The firm has a market cap of $54.32 billion, a PE ratio of 46.63, a P/E/G ratio of 1.52 and a beta of 0.87. The firm’s fifty day moving average is $102.25 and its 200 day moving average is $96.98. Monster Beverage has a one year low of $71.78 and a one year high of $105.45.

Monster Beverage shares are set to split on Tuesday, March 28th. The 2-1 split was announced on Tuesday, February 28th. The newly issued shares will be issued to shareholders after the market closes on Monday, March 27th.

Monster Beverage (NASDAQ:MNST – Get Rating) last released its quarterly earnings results on Tuesday, February 28th. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.04). The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.60 billion. Monster Beverage had a net margin of 18.88% and a return on equity of 17.32%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.60 EPS.

Hedge Funds Weigh In On Monster Beverage

Institutional investors have recently bought and sold shares of the company. Freedom Wealth Alliance LLC purchased a new stake in shares of Monster Beverage in the 4th quarter valued at approximately $25,000. AXS Investments LLC acquired a new position in shares of Monster Beverage in the 4th quarter valued at $26,000. Resurgent Financial Advisors LLC purchased a new stake in Monster Beverage in the 4th quarter valued at $26,000. Ancora Advisors LLC purchased a new position in Monster Beverage during the 1st quarter worth $27,000. Finally, Cullen Frost Bankers Inc. purchased a new position in Monster Beverage during the 3rd quarter worth $29,000. 75.11% of the stock is owned by hedge funds and other institutional investors.

About Monster Beverage

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Monster Beverage Corp. is a holding company, which engages in the development, marketing, sale, and distribution of energy drink beverages and concentrates. It operates through the following segments: Monster Energy Drinks, Strategic Brands, and Other. The Monster Energy Drinks segment sells ready-to-drink packaged energy drinks to bottlers and full-service beverage distributors.